GE is investing $432 million and creating 500 jobs to establish four centers of excellence for the design and production of refrigeration products. The centers will be located in Louisville, Kentucky; Bloomington, Indiana; Decatur, Alabama; and Selmer, Tennessee. The project focuses on making green appliances - and creating green jobs.

"GE is committed to investing in this business and redefining what's possible in home appliances," said Charlene Begley, president and CEO, GE Home & Business Solutions. "With lean manufacturing and advanced design, we believe that American workers can compete with any in the world. In addition, our employees and union leaders have agreed to innovative wage agreements that further increase the competitiveness of these plants."

In Louisville, GE will invest $194 million and create 300 jobs for a center of excellence for bottom-freezer refrigerators. A $93 million investment in Bloomington will allow GE's facility there to avoid closure, create 200 jobs, and become a center of excellence for side-by-side refrigerators. In Decatur, GE will invest $43 million for a center of excellence for top-freezers and green manufacturing. And in Selmer, $32 million will support the redesign of GE's built-in refrigeration line.

The new product designs will improve efficiency and ultimately reduce consumer costs. All products will be designed to meet 2014 Energy Star standards, and incorporate smart-grid technology.